Market town or market right is a legal term, originating in the Middle Ages, for a European settlement that has the right to host markets, distinguishing it from a village and city. A town may be correctly described as a "market town" or as having "market rights", even if it no longer holds a market, provided the legal right to do so still exists.
From the time of the Norman conquest, the right to award a charter was generally seen to be a royal prerogative. However, the granting of charters was not systematically recorded until 1199. Once a charter was granted, it gave local lords the right to take tolls and also afforded the town some protection from rival markets. When a chartered market was granted for specific market days, a nearby rival market could not open on the same days. Across the boroughs of England, a network of chartered markets sprang up between the 12th and 16th centuries, giving consumers reasonable choice in the markets they preferred to patronise.
Prior to 1200, markets were often held on Sundays, the day when the community congregated in town to attend church. Some of the more ancient markets appear to have been held in churchyards. At the time of the Norman conquest, the majority of the population made their living through agriculture and livestock farming. Most lived on their farms, situated outside towns, and the town itself supported a relatively small population of permanent residents. Farmers and their families brought their surplus produce to informal markets held on the grounds of their church after worship. By the 13th century, however, a movement against Sunday markets gathered momentum, and the market gradually moved to a site in town's centre and was held on a weekday. By the 15th century, towns were legally prohibited from holding markets in church-yards.
Archeaological evidence suggests that Colchester is England's oldest recorded market town, dating to at least the time of the Roman occupation of Britain's southern regions. Another is Cirencester, a market town in late Roman Britain. The term derived from markets and fairs first established in 13th century after the passage of the Magna Carta, and the first laws towards a parlement. The Provisions of Oxford of 1258 were only possible because of the foundation of a town and university at a crossing-place on the River Thames up-river from Runnymede, where it formed an oxbow lake in the stream. Early patronage included Thomas Furnyvale, lord of Hallamshire, who established a Fair and Market in 1232. Travelers were able to meet and trade wares in relative safety for a week of "fayres" at a location inside the town walls. The reign of Henry III witnessed a spike in established market fairs. The defeat of de Montfort increased the sample testing of markets by Edward I the "lawgiver", who summoned the Model Parliament in 1295 to perambulate the boundaries of forest and town.